Bonfiglioli Transmissions Collects Rs 759 Cr From Anchor Investors Ahead of Oct 15 IPO

New Delhi: Bonfiglioli Transmissions Ltd on Wednesday secured Rs 759.26 crore from anchor investors, including BlackRock, Goldman Sachs Asset Management, and Abu Dhabi Investment Authority, ahead of its Rs 2,534-crore initial public offering (IPO), which will open for subscription on October 15.

The company allotted 1.30 crore equity shares to anchor investors at Rs 586 apiece, the upper end of the price band, according to a circular.

The anchor book saw participation from leading domestic mutual funds, global asset managers, sovereign wealth funds, pension funds, insurance companies and specialist investment managers.

Among the domestic investors were SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, Axis Mutual Fund, Aditya Birla Sun Life Mutual Fund and Mirae Asset Mutual Fund.

Global investors participating in the anchor book also included BlackRock, Goldman Sachs Asset Management, Allianz Global Investors, and Amundi, while sovereign and pension investors included Abu Dhabi Investment Authority (ADIA) and Canada’s Public Sector Pension Investment Board (PSP Investments).

The company’s IPO will close for public subscription on October 19. The price band has been fixed at Rs 558-586 per share.

The IPO is entirely an offer for sale (OFS) of up to 4.32 crore equity shares by promoter Bonfiglioli S.p.A., with no fresh issue component.

Consequently, the company will not receive any proceeds from the offering, with the entire amount going to the selling shareholder.

Bonfiglioli Transmissions, the Indian subsidiary of Italy-based Bonfiglioli S.p.A., manufactures mechanical and electro-mechanical power transmission products and industrial drive solutions, including gearboxes, gear motors, and drive systems.

Its products cater to industry and automation, off-highway mobility and wind applications.

The equity shares are proposed to be listed on the BSE and the NSE on October 23.

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